Economy in Brief: June 2013

The new overall EU sentiment index for June, at 92.6, is up from 90.8 in May. This is highest level since April 2012, a little more than a year ago. It's good mark but still it continues to be a very, very, low reading. Place this [...]

Real GDP growth for Q1'13 was revised lower to 1.8% (1.6% y/y) from last month's estimated 2.4% rise. Expectations were for a 2.4% gain. Growth in consumer spending and business investment were significantly reduced, but residential [...]

Germans do live in a country of their own but is it also a world of their own? The forward-looking GFK consumer climate survey moved up to 6.8 in July from 6.5 in June. The 6.8 reading was last surpassed in September 2007. The German [...]

The Mortgage Bankers Association reported that total applications for a home mortgage fell 3.0% w/w, extending the declines of the prior six weeks. The latest level was down by one-third since early-May. Last week's decline reflected [...]

Real GDP growth for Q1'13 was revised lower to 1.8% (1.6% y/y) from last month's estimated 2.4% rise. Expectations were for a 2.4% gain. Growth in consumer spending and business investment were significantly reduced, but residential [...]

Home price strength is building throughout the country. The seasonally adjusted Case-Shiller 20 City Home Price Index rose 1.7% (12.0% y/y) during April following its upwardly revised 1.9% March jump, earlier reported as 1.1%. The [...]

Consumer confidence remains on an uptrend. The Conference Board's Consumer Confidence Index rose to 81.4 this month following a downwardly revised May reading of 74.3. Consensus expectations had been for 75.2. During the last ten [...]

The housing market continues to improve. New home sales increased 2.1% (29.0% y/y) last month to 476,000 (AR) from a revised 466,000 during April, initially reported as 454,000. The latest level was the highest since July 2008 and [...]